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The British pound continues to find buyers every time we dip, and that’s exactly what happened on Thursday. We initially fell, and then turned around to reach towards the 1.25 handle again. This is a market that continues to show quite a bit of resiliency, especially considering how many potentially negative headlines there are involving the British pound. With this in mind, I am a buyer of this pair in general but I recognize that currently we are consolidating between the 1.24 level on the bottom, and the 1.26 level on the top.

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